₹15 Lakh Home Loan EMI for 15 Years
The EMI for a ₹15 Lakh home loan over 15 years is about ₹14,859/month at 8.6% p.a. Over the full tenure you repay ₹26.75 L — of which ₹11.75 L is interest. Updated for 2026.
₹15 Lakh EMI at different interest rates (15 years)
Even a 0.5% rate difference changes your total interest by lakhs. This is why negotiating your rate — or transferring your balance — matters more than most borrowers realise.
| Interest Rate | Monthly EMI | Total Interest |
|---|---|---|
| 8% p.a. | ₹14,335 | ₹10.80 L |
| 8.25% p.a. | ₹14,552 | ₹11.19 L |
| 8.5% p.a. | ₹14,771 | ₹11.59 L |
| 8.75% p.a. | ₹14,992 | ₹11.99 L |
| 9% p.a. | ₹15,214 | ₹12.39 L |
| 9.25% p.a. | ₹15,438 | ₹12.79 L |
| 9.5% p.a. | ₹15,663 | ₹13.19 L |
| 10% p.a. | ₹16,119 | ₹14.01 L |
₹15 Lakh home loan EMI by bank (15 years)
EMI for a ₹15 Lakh loan over 15 years at each lender's minimum 2026 rate. Sorted lowest first.
| Bank | Min Rate | Monthly EMI | Processing Fee |
|---|---|---|---|
| BoI | 7.1% | ₹13,566 | Varies |
| Central Bank | 7.1% | ₹13,566 | Varies |
| IOB | 7.1% | ₹13,566 | Varies |
| P&S Bank | 7.1% | ₹13,566 | Varies |
| Canara | 7.15% | ₹13,609 | 0.50% (varies) |
| UCO | 7.15% | ₹13,609 | Varies |
| BoB | 7.2% | ₹13,651 | Up to 0.50% (varies) |
| Bajaj Housing | 7.25% | ₹13,693 | Up to 0.50% + GST |
| Union Bank | 7.35% | ₹13,778 | Varies |
| BoM | 7.35% | ₹13,778 | Varies |
Cut this loan short: the prepayment effect
On a ₹15 Lakh loan at 8.6% over 15 years, the first few years are almost entirely interest. Adding just ₹10,000/month toward the principal closes the loan in roughly 6 years 8 months and saves about ₹7.03 L in interest.
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₹15 Lakh EMI at other tenures
Other loan amounts for 15 years
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Frequently Asked Questions
What is the EMI for a ₹15 Lakh home loan for 15 years?
The EMI for a ₹15 Lakh home loan over 15 years is approximately ₹14,859 per month at an interest rate of 8.6% p.a. The exact EMI depends on your bank's rate — at 8% it is ₹14,335 and at 9.5% it is ₹15,663 per month.
How much total interest will I pay on a ₹15 Lakh loan over 15 years?
At 8.6% p.a. you would pay roughly ₹11,74,620 in total interest over 15 years — making the total repayment about ₹26,74,620 against a borrowed amount of ₹15,00,000. A longer tenure lowers the EMI but sharply increases total interest.
Which bank offers the lowest EMI for a ₹15 Lakh home loan?
Based on current 2026 minimum rates, Bank of India offers the lowest EMI at about ₹13,566/month (7.1% p.a.) for a ₹15 Lakh loan over 15 years. Always compare the processing fee and reset terms, not just the headline rate.
How much can I save by prepaying this loan?
Adding just ₹10,000/month towards the principal on a ₹15 Lakh loan can close it in about 6 years 8 months instead of 15 years, saving roughly ₹7,02,874 in interest. Use the NestSaver prepayment simulator to model your exact numbers.
Should I choose a shorter or longer tenure?
A shorter tenure means a higher EMI but far less total interest; a longer tenure eases monthly cash flow but costs much more overall. For a ₹15 Lakh loan, moving from 30 to 20 years raises the EMI by about ₹1,472/month but can save ₹10,43,520 in interest.